Wednesday, May 31, 2023

Attention: gasoline goes up 600 pesos more per gallon starting today. This is how the price will be by the cities and the worst thing is that it will rise more

The Ministry of Mines and Energy announced Tuesday, May 2, that gasoline prices will be adjusted throughout the national territory.

The national government, from October 2022, implements the policy to reduce the value of the fuel subsidy in Colombia to reduce the deficit of the Fuel Price Stabilization Fund (FEPC).“, said the entity.

For this reason, “to move forward with this subsidy reduction, starting tomorrow, Wednesday, May 3, the price of current motor gasoline will have an average readjustment of $600 per gallon throughout the country, while diesel prices will remain stable.”

The current new motor gasoline prices in the thirteen main cities of the country are:

  • Villavicencio: $12,273
  • Kali: $12,211
  • Bogota: $12,173
  • Manizales: $12,164
  • Pereira: $12,154
  • Ibagué: $12,118
  • Medellín: $12,111
  • Hunting: $12,055
  • Bucaramanga: $11,920
  • Barranquilla: $11,847
  • Cartagena: $11,805
  • kukuta: $10,225
  • Food: $9,916
The new current price of motor gasoline in the main thirteen cities of the country. – Photo: Ministry of Mines

For their part, diesel prices remain stable with these reference values ​​in the 13 main cities of the country. The price per gallon is different, they were Cali ($9,484), Villavicencio ($9,457), Pereira ($9,429), Manizales ($9,417) and Bogotá ($9,357), where the value of this fuel will be higher than the national average.

Diesel prices remain stable with these reference values ​​in the 13 main cities of the country.
Diesel prices remain stable with these reference values ​​in the 13 main cities of the country. – Photo: Ministry of Mines

The new Minister of Finance, Ricardo Bonilla, also pointed out in an interview with WEEK that the idea is to comply with the fiscal rules and make the most of the current hydrocarbon contracts. However, he pointed out that gasoline will continue to rise.

According to the economist, the government of former President Iván Duque left a large deficit, for which he pointed out that the price of this fuel is likely to exceed 15,000 pesos.

“The deficit of the Gasoline Price Stabilization Fund (Fepec) must be covered. It is a big gap that has the biggest impact on the Fiscal Rule (the law that obliges the country to make a sustainable management of public finances). If this deficit did not exist, one could talk about the Fiscal Rule more calmly, but with this space it is not easy and the deficit must be covered. Gasoline will continue to rise,” he added.

Finally, he insisted in this medium that the ACPM remains the same: “For now, the ACPM will not increase. The reason is that it affects the price of cargo and passengers, so it would not be good for the purpose of reducing inflation.”

Tips to save gasoline and take care of your pocket in times of skyrocketing inflation

And it is that gasoline in Colombia continues to be a matter of concern for many workers who must save for other expenses. Month after month, the Petro Government increases the price of gasoline which affects the economy of many Colombians.

The new finance minister, Ricardo Bonilla, explained that in the short term Gasoline prices will continue to rise because of the country’s fiscal deficit since the government of Iván Duque, which is close to 30 billion dollars. Therefore, unfortunately, the upward trend in gasoline prices seems to have no end.

Get image
Gasoline – Photo: Get Image

Currently, in Bogotá, the price of gasoline is $11,573, while in Medellín the price is $11,511 and in Barranquilla it is $11,247. According to the Energy and Gas Regulatory Commission (Creg), it is possible that in May, the price will increase by $ 400, which will undoubtedly increase anxiety among workers.

However, there are some measures that can take to save gasoline in the private car and thus reduce fuel costs.

First of all, it is important to properly plan your destination and avoid other stops or detours that can increase gasoline consumption by more than 14% of the budget allocated for fuel.

Another important measure is to verify the quality of the tires, because everyone must have The pressure is indicated by the manufacturer and adjusted according to the climate of the city.

You should also avoid carrying extra weight in the vehicle, which can increase gasoline consumption. You can review each week what items are needed and leave only the essentials, such as the road kit, fire extinguisher and air freshener.

World Nation News Desk
World Nation News Desk
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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